Bakken Oil Boom Creates Huge Housing Demand

The Bakken Oil Field in North Dakota is the largest oil discovery on American soil in the last 40 years. But now that Bakken oil production has rocketed from 3,000 barrels to 600,000-plus per day in just six years, oil workers are flooding the state for jobs and finding no where to live.

The modern day "gold rush" has left oil companies scrambling for suitable housing and North Dakota farmers grumbling about the influx of strangers. The Bakken boom could mean great things for the Midwest economy, but the new workforce must find houses for their families first.

"Right now, the majority of workers are crammed into small man-camps that are crowded, poorly insulated, expensive and temporary," says Stephen H. Watkins, CEO of a capital market called Entrex.

Better alternatives, however, are on the way.

"With some help from us at Entrex and the capital raised from our Top-Line Income Generation Rights Certificates, the new Bakken Housing Group can provide safer, cleaner housing for oil workers," says Clint Loman, Managing Member of Bakken Shale Housing LLC.

Bakken intends to construct multiple well-maintiained, family-friendly housing facilities around the region. Instead of paying for a mattress per night, workers can rent a three-bedroom unit on a month-to-month or yearly lease.

Local experts are predicting at least a 30-year window of drilling success in the Bakken, which could mean promising gains for the long-term real estate market. Officials already say North Dakota is second only to Texas for domestic oil production.

The explosive growth has oil companies and investors salivating over the profit potential. Not to mention the big picture goal of getting the U.S. to depend more on national resources and less on foreign oil.

Bakken Shale Housing chose to help finance their expansion with real estate investors by using a TIGRcub security structure. According to Watkins, Entrex is an alternative to the Wall Street capital markets that have trouble supporting certain companies.

See what Entrex has to offer both investors and entrepreneurial businesses by visiting www.entrex.net.

Home Buying Offers a Unique Opportunity for Hispanic Families

A recent national survey by Fannie Mae revealed that Hispanics place more value on the idea of homeownership than all Americans, and 73 percent of Latinos believe that owning a home is a good way to build wealth to pass along to their families. However, trends suggest Hispanics are more likely to lack basic financial literacy skills, which can hamper the community's home buying and long-term financial success.

The first-time home buying process can seem like a daunting experience. But with the right resources, such as TD Bank's five-step guide for first-time home buyers, Latinos can turn the process of buying a family home into a teachable financial experience for both themselves and their children. Here is some of TD's advice:

1. The importance of saving.

• According to a recent national survey by the National Foundation for Credit Counseling, nearly half of Hispanics polled revealed they do not have savings.
• The best way to teach children about saving is by encouraging them to do it. If they get a weekly allowance, ask them to put away 25 percent to save enough to purchase the latest video game or toy they want.
• Then, explain to your children what a down payment is, and how saving for one can help reduce a home's cost. The bigger the down payment, the smaller your home loan, therefore the lower the interest rate.

2. Budgeting and determining what you can afford.

• Living within your means is key to long-term financial success. Unfortunately, Hispanics are more likely to report struggling to pay their bills on time, which presumably means many Hispanics spend more than they make. It's important to discuss budgeting at an early age with children.
• By reviewing your income and current monthly debts, you can determine your ideal monthly mortgage payment. From there, you will be able to narrow the focus of your house hunt to homes you can afford.

3. Understanding credit and loans.

• Having bad or little credit makes the goal of owning a home a struggle.
• To drive home the lesson about credit and loans, offer your children a loan to purchase the new shoes or outfit they want. Require them pay you back monthly with a portion of their weekly allowance.

To view TD Bank's five-step guide, visit https://esecure.tdbank.com/net/firsttimehomebuyers/default.aspx.